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India’s fourth-largest private sector lender Yes Bank Ltd has raised $150 million from International Finance Corporation, the private sector lending arm of the World Bank, to scale up its small and medium enterprise loan portfolio, a statement said Monday.

Of the total amount, $45 million would come through IFC’s co-lending programme while $60 million from IFC’s own account loan, both with up to seven years tenure. The remaining $45 million would be a syndicated loan provided by Intesa Sanpaolo, Bank Muscat, Doha Bank and AKA Frankfurt for a tenor of two years.

Yes Bank has swapped the said loan with the RBI through the occasional swap window offered to banks.

Further, Yes Bank would become the first institution globally to get funding via IFC’s managed co-lending portfolio programme and also the first Indian bank to garner loan under IFC’s A/B loan facility.

The managed co-lending portfolio programme of the multilateral funding agency is a new syndication platform that enabled institutional investors to “passively participate in IFC’s future senior loan portfolio.”

“Increasing financial access to micro, small and medium enterprises directly supports job creation, a top priority for IFC in India,” Serge Devieux, IFC director for South Asia, said in the statement.

Yes Bank has an asset base of $18 billion with a network of over 500 branches spread across 350 cities with more than 1,100 ATMs.